Trust entitled to depreciation on assets, even if cost of such assets allowed as deduction u/s. 11

IN THE ITAT CHENNAI BENCH ‘C’ Sri Rengalatchumi Educational Trust V/s. Income-tax Officer, OSD (Exemptions) – III IT APPEAL NOS. 89 & 90 (MDS.) OF 2009 AND 681 & 682 (MDS.) OF 2010 [ASSESSMENT YEARS 2004-05 TO 2007-08] MARCH 25, 2011 ORDER Abraham P. George, Accountant Member In these appeals filed by the assessee, for the impugned assessment years, a common ground has been taken. The issue raised by the assessee through this common ground is that the CIT (Appeals) as well as the A.O. fell in error in not allowing the claim of depreciation for the res...